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's really thinking that we're going to get this full 3.5%, 4% gdp hit smack into the economy on january 1st. the problem is that time is marching on. we've had the election, we've had thanksgiving. the excuses are running out. the lame-duck session is only so long. that's probably why the markets are getting nervous. although you may get a deal done in q-1 rather than in q-4, the fact that it actually hits from january 1st is going to keep business very cautious, very defensive and that's going to worry the equity market. >> it's interesting because it also comes against the landscape where we've seen chinese equities underperform, they reminded us very few of its member countries have great growth prospects going forward. that's probably wise. people are saying why is it that across the globe the u.s. fiscal cliff is such an issue. well, it's because sources of growth at this point are few and far between. >> that is the problem. where is growth going to come from. the one place that looked set for a reasonable 2013 was the u.s. economy. europe flat, china slower probably than this year. b
that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments quickly caught fire. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic situation is different. >> i'm not obligated on the pledge. i made tennesseans aware, i was just elected, that the only thing i'm monitoring is the oath that i take when i serve when i'm sworn in this january. >> reporter: gop lawmakers bluntly stating to alert the fiscal cliff, they're ready to break from grover norquist and the pledge he's got most republicans to sign to never raise taxes. norquist waste nod time hitting back on cnn's s"starting point" >> it doesn't pass the laugh test. if you want to go to your voters and say, i promised you this and i'm breaking that problem, you can have that conversation with them. but you don't have an argument with me. you've made a c
's entire economy. we can't afford it and we can't afford to leave it intact. so try as they might, remember the last congress republicans passed a lot of bills out of the house of representatives that tore apart obama care. as even the president calls it now. they didn't go anywhere in the senate and meanwhile, alex, after the thanksgiving break, the principles are expected to get back together to begin negotiating in earnest. as you're right the clock is ticking. just a little bit more than one month to go before the nation heads over that fiscal cliff. al alex? >> 38 days and counting. thanks so much. let's go from the white house to the middle east now. palestinians and israelis are keeping a cease-fire alive. but many call the truce extremely fragile. an attempted border breach threatened the calm yesterday. israeli forces shot and killed a palestinian man. he was one of hundreds testing israeli security at the border. nbc's martin fletcher is live for us in tel aviv. good saturday morning to you, martin. can this shooting jeopardize the cease-fire? and then when does the next phase beg
on tonight's newshour. >> major funding for the pbs newshour has been provided by: ♪ ♪ ♪ moving our economy for 160 ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: demonstrations, clashes with the police, and tear gas in tahrir square-- familiar scenes in egypt nearly two years ago that led to the fall of longtime leader hosni mubark. but today, they were aimed at egypt's new leader. in the coastal city of alexandria, opponents set fire to the offices of president mohammed morsi's political party, the muslim brotherhood. there and elsewhere in egypt today, the president's critics and supporters clashed in the streets over his decree yesterday exempting himself from judicial review, and
will it do to our economy? >> i don't think it will do that much. i think people will assume a solution will be found quite promptly. it's a little like the debt ceiling question. people know -- the rest of the world may think we're idiotic at times but don't think we're going to commit suicide. so i think if -- i hope something gets worked out before january 1st. if it goes a little bit beyond that, i don't think -- >> if it's january 10th -- >> if you guaranteed me that the fiscal cliff, we would go past that, i wouldn't sell a share of stock today. >> you have confidence that in the end they will fix it? >> and that this economy works. >> he is confident of a deal huh? >> he really does. he believes there's a possibility -- he thinks it will take some time. first thing he wants to see is a minimum tax, which they can do now in terms of people who make more than a million dollars, minimum tax you have to pay it before you do the tax reform. too many competing interests to get it done immediately. interesting man. we'll have more from him. >>> to republican politics,
is getting his economy back on track and to do that he needs the help of the international community and the united states. so he's got to carefully try to balance these two issues. i think he recognizes that a conflict along, you know, egypt's border with israel is not in egypt's interest any more than it's in israel's interests. so -- but these are people who have long been in opposition and they're having to learn to balance these political calculations as they go forward. >> right. and there's no rest after election day when you're the active president. p.j. will stay with us as we turn to another discussion right on point with president obama's foreign policy team. many republicans are attacking ambassador susan rice, a top candidate to replace secretary of state clinton. the senate has spiked some key nominations from president obama before, from elizabeth warren to nobel peace prize winner peter diamond. there is one number that suggests obama is likely to win this battle. we will look at the math after the break on "now." so you say men are superior drivers? yeah. then how'd
, and they're not interested in raising taxes, they think it is a bad idea for the economy. the only way to have a stimulus to the private sector is to leave more money in the private sector. the other thing that folks in kentucky don't understand is that why is it a fiscal cliff to cut spending? most people in our state think we're spending too much money up here and we should cut spending. in fact, the majority of congress voted for this sequester. why was it a good idea a year ago and now it is not a good idea. >> on spending and spending cuts, you may have something in common with the president, which i want to get to. you mentioned the people in your great state of kentucky and, look, we know and we're all hoping they're out and about shopping, it is holiday season, and in terms of the timing with this -- with this deal, you know, hopefully getting done before january 1, a lot of people want to avoid the tax increase that will automatically happen as people are paying those holiday bills, right? >> here's my question. if it is bad to raise taxes on everyone, why is it good to raise
interest deduction may be on the chopping block if the economy falls off the fiscal cliff. what does it mean for you and your nation's nascent housing recovery? rodney anderson is the director of supreme lending. welcome, sir. >> good afternoon, lori, rodney, the mortgage interest deduction, on? mous with terms like sacred cow and untouchable but that is changing. >> absolutely. we know several years ago they would have to address the mortgage interest deduction. what we need to remember here is the housing market is already in a troubled stage. ben bernanke last week saying mortgage lending guidelines are overly tight. so we're in an area right now that we know we need to get rid of the deduction but how do we do it? we have to do it structured. lori: let me come in here with this point. are you saying if we get rid of this deduction it could thwart, to your point a very vulnerable recovery? today we got the mortgage apps down 23 years from the prior weeks. new home sales were down when they were expected to rise? >> yeah, it could absolutely hurt the, short term it could hurt it. l
to strengthen both country's economies. >>> after black friday, small business saturday and cyber monday, organizers are hoping the first annual giving tuesday will become a new holiday tradition. the campaign encourages folks to donate time and/or money and then share the good deed on social media. >>> and veteran nbc newsman tom brokaw will be honored with the annual ken burns lifetime achievement award for his contribution to the arts through history related projects. >>> all day long you can stay on top of the very latest developments in those stories and others as they break on msnbc. and tonight be sure to watch "nbc nightly news" with brian williams. >>> and, finally, here's a look at what's coming up later this morning on the "today" show. in a "today" exclusive business tycoon warren buffett is live with his take on the state of the economy, the fiscal cliff, and taxing the rich. >>> and actress scarlett johansson talks about the oscar buzz surrounding her new role in "hitchcock." >>> and now keep it on this channel for continuing local news, weather, sports, and more. i'm lynn
cure the economy. the senior editor of "the atlantic" joins us live in the next half hour. he has an interesting perspective. >>> ambassador susan rice heads to capitol hill this morning to mend fences with three republican senators. john mccain, lindsey graham and kelly a at with her information comments made on several networks that played down the role of terrorists in the attack on the u.s. consulate in benghazi, libya, that killed four americans including ambassador chris stevens. rice maintains she made it clear the intelligence information she had at the time was preliminary. senators have threatened to block her nomination if president obama chooses her to be his next secretary of state. >>> and the obama administration responds to the benghazi attack does not get high marks from americans. the results of a new poll out this morning shows a majority of those questioned, 54%, say they are dissatisfied with the administration's handling of the attack. >>> and the body of yasser arafat was exhumed this morning from a mausoleum in the west bank. a team of international scienti
a lot of money in aid, $3 billion a year from the united states and he has a very fragile economy. but i'd like to go back to president obama. and he is getting praise from critics even on the right who saw that his first administration, he himself said that in order to be able to influence israel, that the united states needed to create daylight with israel. well, now it appears that he has reversed that position and his position now is that the united states needs to back israel, and as he said over and over and over, israel has a right to defend itself. >> so israel has elections coming up in january. maria, how do you think this is all going to play out in that election? >> i think that this incident, again, like i said in my first answer to you, netanyahu comes out looking very, very strong. and in fact, his opponent, who was as i understand going to announce a run against netanyahu before all of this started, has now backed down, and now it might be too late for him to announce anything, for anyone to announce rung against netanyahu, and he certainly has been strengthened. he showe
for the economy and hurt jobs. our first team points out it seems like the parties are ready to agree to a large point for taxes on the wealthy. the down side is the two sides can not agree on how to raise the taxes on the wealthiest lois. >> i think you've hit the nail on the head. first of all, i don't think they care about throwing groesher norquist under the bus. i don't think the pledge is great de. they can't be on the side of raising taxes for the wealthy. the obama cam paper and now the obama white house has framed this in such a way that all these politicians who had been dug in before are saying, hmm. you know, we've got to do something here because how can you come out and say, no, no, no, let's not tax the rich. the question is as you say how do they get there, and think what they're going to try to do is come up with a lot of different caveats to have people save face so that some of these people from the very red states they say, well, okay, we're going to protect small businesses, we'll take them out of it. we're going to protect this person and that person. so as long as anybody
without concern for america's economy or standing in the world. we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests the taxpayers shouldn't keep turning every program they can dream up. let's take a look at the so-called thelma and louise democrats so he know who he's talking about. to say they are willing to go over the fiscal cliff, we have those who say they are not willing to support any reforms to entitlements. dick durbin says he would be willing to talk about it but only after a deal is struck. >> you have a difference of opinion in all political parties. i don't know many republicans who agree with mitch mcconnell. this is the guy who said his number one political goal was to get obama out of office. i think it's all positioning. you have got a bunch of democrats and mcconnell positioning themselves for negotiation. martha: tucker, what do you think? >> i think the republicans are being outnegotiated by an incredibly aggressive democratic party. they are demanding tax hikes on highest earner. an elevation in the debt limit which is
regardless of what it means for jobs, or the economy. >>> coming up here, the it's top economic adviser alan krueger. clashes in cairo today, more protests in tahrir square against egypt's president morsi. we'll have a live report. move over george clooney the on yan's kim junge un the sexiest man alive and beijing doesn't get the joke. good day, i'm andrea mitchell live in washington. no joke today on capitol hill. ambassador susan rice's attempt to clear the air with republicans over benghazi did not work as the white house had hoped. senators mccain, ayotte and graham say they have more questions than they had before rice's comments about benghazi. >> we are significantly troubled by many of the answers that we got and some that we didn't get it. >> if you don't know what happened just say you don't know what happened. people can push you to give explanations and you can say i don't want to give bad information. >> that's troubling to me as well, why she wouldn't have asked, i'm the person that doesn't know anything about this, i'm going on every single show. >> joining me now for our dai
when you add economic disaster with good prospects down the road people take to the streets the economy in egypt has not gotten better. >> then to have the right course of the track them to replace with another dictator. >> that has not because of political stability. they are getting their money out with business opportunities and prospects so people are back in the street. they don't get $1.5 billion per month then they don't have food. melissa: k.t. mcfarland. let's check the market with nicole petallides at new york stock exchange. facebook is called to outperform over the next year? >> we have seen facebook get pummeled from the ipo at $38 and is sold off but the last three months have been looking better it is up over 8% but the one that you talk about they are somewhat bearish saying it will outperform the s&p and lot of people underestimating the revenue growth over 10 or two years. a positive note for facebook. melissa: the park ridge in a bare tree will cost you more the hold gift list would be $107,000.61% increase over last year but not everything cost more out of the 300 an
on the margin. >> one i think i think it's not just for the fiscal cliff, but if our economy is going to need mobilization to get more jobs here, fewer exports abroad, then you've got to have some c.e.o.s come in, like f.d.r. did. f.d.r. brought in the head of chrysler and sears and roebuck. he had two top republicans in his cabinet, and i know c.e.o.s don't like to come to government because they have to give out all the stuff they have, those taxes. those are the people i think that want to help their country. the country has been so good to them. arlet them try to figure out how to get our country moving again. >> and i think obama has to realize the moment. for a re-elected president there is so much good will out there, even among his opponents. now, we had an election which i think was decided but not decisive. there were, what, 57 million people who voted for romney. and there is a way that obama can kind of step forward and say, "these are the ideas. this is the method we're going to do this." he can-- i mean, you know, you talk to this man-- i mean, you don't get to talk to the peopl
. will this be a much-needed jolt for the economy. >>> we're going to dig into the numbers this morning. >>> and speaking of money. powerball fever, overloading machines, causing them to break down. we have the latest on the multimillion-dollar jackpot. and tips from a seven-time winner. seriously, he's won seven times. >> i'll be taking notes. >> pick the right numbers. back to you. >> he's on a roll. >>> i have to focus here. this is important. turning heads this morning, anna nicole smith's 6-year-old daughter, dannielynn, following in her mother's footsteps, modeling for guess. we'll hear from her and her dad. >> she looks exactly like anna nicole smith. >> and he looks tired. thank you for getting up with us. >>> we're going to keep you up, though. they're here, the muppets, live. i hear they're taking over the control room. >> on the right side. not the left side. the right side. my left side is pretty good. >> they always take over the control room. >>> first, let's get to sam and the snow making for a nuisance in the rush hour. >> it is a nuisance snow. some folks won't get the
for the overall health of the economy. but first, mass protests are erupting in egypt after a sudden power grab. in cairo's tahrir square, thousands are chanting for regime change. they say egypt's new president is acting like a dictator. president mohamed morsi granted himself sweeping new powers yesterday, basically morsi now has absolute power for six months. his opponents say he's acting like a new pharaoh. the u.s. state department is calling for calm and encouraging all parties to work together. morsi declared all his laws, all his decrees are final and cannot be overturned or appealed until egypt's new constitution is put in place. just days ago, people around the world were praising morsi for his pivotal role in negotiating the israel/hamas cease-fire. today, protesters set fire to a symbol of morsi's power, the muslim brotherhood headquarters in alexandria, egypt. morsi supporters clashed with protesters there. morsi is defending his new powers, saying he's not taking sides and the steps he took are meant to achieve political and social stability. reza sayah joins us live in cairo. rez
, but it would also compromise our economy. >> and, quickly, there's a lot of speculation about what type of deal, what the deal will actually look like, talks perhaps coming to an agreement to have a mechanism in place that would have sizable deficit reduction and have sizable entitlement reform in 2013, a little bit now, a lot later. do you think it's possible in the lame duck to do a big deal or get a blueprint in place by january 1st? >> well, my best guess is, and it's just a guess, is that we have a blueprint and that we do make some changes. but that a commitment is made, not something as extreme as the sequester but a commitment is made for tax reform and other reforms that take place in 2013, but that we do enough to get us through the end of the year. i don't think it will be a completely kicking the can down the road because we can't because as my good friend from vermont says, you know, everybody's taxes will go up. i can't see that happen. i really can't. >> representative karen bass from l.a. laker land, thanks so much for waking up early for us. happy thanksgiving. >> thanks for ha
that money is in the economy if you have those taxes rise on the middle class. it's really, john, the latest from the white house. it comes on the same day warren buffett writing in the "new york times" in an op-ed saying rich is $500,000 a year, and let's tax them. let's have a 30% minimum tax for the income above $1 million of rich people. look what he said here. the "forbes" 400, wealthiest individuals in america hit a new group record. $1.7 trillion, more than five times the $300 billion total in 1992. he says you know, my gang has done pretty well. so leave the middle class alone. and so these two kind of the 1-2 punch from the white house perspective, at least, today on what we should be doing in debt talks. >> buffett is interesting. he said he doesn't think it will be that big a deal if we go off the cliff. >> he says don't worry about raising taxes on investments and income from investments. he said, i will do a good deal, because it's a good deal. not because my taxes are going to be a certain rate. so he has pounded this -- beat this drum for some time. but this is the white house
that is a good thing. now the rental company and the sour economy have caused a lot of people to get on the bus. some 600,000 people are expected to get on the bus, it is a trend we expect to see now until the end of the year. >> ron mott, safe travel. >>> and today, the dow up 48 points, the nasdaq gaining just under 10 points. and the s&p 500 was a little more than three points higher on the day. >>> up next, families facing tough decisions about the place they call home. >>> thousands of people in the northeast will be spending this thanksgiving somewhere other than home because of hurricane sandy. and in one new jersey town, they're struggling with the question many in new orleans dealt with after katrina. should they go back home and rebuild at all? sayreville is at the intersection there and has been flooded over and over. nbc chief correspondent anne thompson has more on some residents who have had enough. webber avenue, they do a strange thing. taking away debris, but not the heartache of a neighborhood in ruins orange stickers declare 230 homes uninhabitable. including this one. >> it
to the economy. >>> and to a developing story now out of new england tonight. an explosion in springfield, massachusetts. this camera capturing the explosion right when it happened. two buildings flattened, sending a huge cloud of dark smoke into the air. right now, it appears a natural gas leak could be the cause. we're told the impact could be felt miles away. >>> to the weather now and to two real signs of what's come to. snow in michigan this evening at this college football game between northern illinois and eastern michigan. all part of a massive storm gathering steam. and the other headline? the plummeting temperatures. so, we bring in abc mrng jinger see. that system with all the snow, that's on the move tonight? >> reporter: that is. and, you know, we're going to drop off a little bit on the east coast, temperature wise but we're not going to get the snow. in places up in northern wisconsin, northern michigan, already 8 to 12 inches. let's see where that lake effect snoet moves now. still going to get a few more inches in parts of michigan and wisconsin, but look it from clevelan
see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. at meineke i have options... like oil changes starting at $19.95. my money. my choice. my meineke. >>> black friday, drew bigger crowds this year than last. so if you thought it was busier, you were right. but shoppers were less willing to part with their hard-earned dollars. black friday foot traffic jumped 3.5% with more than 370 million store visits, according to the research firm shopper track. but sales fell nearly 2% to $11.2 billion. for some shoppers, it is more apt to call yesterday black and blue friday, clever. the pushing, the shoving, the tussling, the yelling became as much a part of the consumer event as the shopping. and here now, a glimpse at some of the black friday free-for-all. ♪ >> [ bleep ]! i will stab one of you [ bleep ]! ♪ >> i literally got squished. half of my body was in that door. that was insane. >> y
of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. [ male announcer ] a european-inspired suspension, but it's not from germany. ♪ a powerful, fuel-efficient engine, but it's not from japan. ♪ it's a car like no other... from a place like nother. introducing the all-w 2013hevrolet malibu, our greatest malibu ever. ♪ monarch of marketing analysis. with the ability to improve roi through seo all by cob. and from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> there are signs of the truce between israel and hamas is holding this weekend. palestinian sources say israel has eased restrictions on gazan fishermen, allowing them to go up to six miles from shore. the fishermen had been restricted from going more than about three miles into the mediterranean. also palestinian farmers have resumed tending their la
, the focus turns back to the u.s. economy now the fiscal cliff talks are looking more promising and the election is behind us. new reports this week on the housing market, manufacturing sector and consumer data. also the second estimate for third quarter gdp comes out on thursday. the broadest gauge of the health of the economy and economists think that number is going to show better growth than we saw, 2.8% down from 2.2% that they had thought earlier. the fiscal cliff being, you know, something that really helped the stock market last week. >> i would imagine. >> don't screw up. >> please, congress, don't mess this up. let's take a live look this morning at the capitol dome where congress is back to work this week. s fiscal cliff staring them in the face. 35 days, we go right over that cliff or right down that slide or whatever the metaphor is we're using today. politicians on both sides of the aisle are now signaling that they're willing to compromise. that includes republicans who've been softening their stance on raising taxes. senator dick durbin, democrat from illinois, w
be resolved and it puts the focus again back on what's happening in the u.s. economy. what's happening in the u.s. economy? it slowly is healing job market is starting to filter into sentiment. and the housing market is showing some notable signs of improvement. this week we're going to hear more on the housing market. manufacturing sector, also some consumer data. we're going to get some fed regional reports from the federal reserve. also going to get a gauge of gdp, gross domestic product. gdp is the broadest gauge of economic growth. prior quarter was something like 2%, not great. we think that maybe they're going to think this quarter was more like 2.8%, which would show, again, that healing in the market overall. a quick focus for you on the housing market. this is something you probably felt most directly. in part because we have record low mortgage rates. last year the 30-year fixed fell to 3.31%. the 15-year fixed, this is the popular refinancing tool, 2.63%. many of you are telling me you can't qualify. i'm telling you, these rates are going to stay low for a long time so you
. >>> and concerns of a lack luster economy sure aren't evident this weekend. shoppers screaming and turning out in big numbers to the stores on black friday, leading many analysts to believe post thanksgiving sales will surpass last year's numbers after all. perhaps. online sales are also up a whopping 21% on black friday. then there's power ball fever. and it's spreading across the country. the lottery jackpot is now $325 million. that's the fourth largest jackpot in the game's history. so if you're feeling optimistic, you have until 10:00 p.m. eastern tonight to buy that $2 ticket. >>> and overseas now to egypt, where opposition to president mohamed morsi is growing. for a third straight day, protesters hit the streets demanding he rescind a decree that gives him unlimited power. we get more now from cairo. >> reporter: outrage, clashes, and anguish in tahrir. thousands of angry egyptians back in a public square that has become the arab world's emblem for the democratic right to protest. this was where egyptians demanded the ouster of former president hosni mubarak last year. this time, the f
that this could have a crushing impact on the u.s. economy. what are they saying about this? >> well, that's the problem for policymakers. i do think both republicans and democrats they want a deal. leaders want a deal because this really could be an economic catastrophe. i mean, that's what something that ben bernanke warned repeatedly. put politics aside for a little bit and try to get a deal. but both sides want to get the best deal possible and you're in the going to see any deal anytime soon because we have until january 1st. >> so you're saying they're going to wait until the last second. >> last second, up to christmas, if not new year's. this week when congress comes back and into next week, you see jockeying for leverage. that's what's going to happen. no major deal is going to reach -- be reached much before christmas if there is a deal. >> no plan for bob cusack celebrating the new year. you'll be on the hill waiting for a deal. we'll continue the conference. i appreciate it. switching gears, just into us at cnn, new damage estimates from superstorm sandy. to alison kosik live f
or the economy. > a tough white house ally, nglinois senator dick durbin argued against using fiscal cliff pressures to scale back paidare and medicaid benefits. >> these are people that have paid in over a lifetime into protectecurity and medicare and fully expect the protection bech they've invested in to be that'snd it has to be there. republicans anyblicans are demanding in any fiscal cliff deal. o raisew never to raise taxes on the w o entitlement programs now gobbling up more than 60% of annual federal spending. that means the white house to dough if i liberal democrats or >> the p enrage republicans. ted to thesident is very committed to the proposition itht we can deal with these challenges if we come together oach.dopt a balanced approach. >> i may sound glib what i'm about to say but this white house is really serious about an issuewhen it goes to twitter. anew white house hash tag on preserving the middle class tax preserving. that's $2,000, average amount that taxes would rise if the bush era texas cuts are not ttended. eek white house plans to hammer its issue all week, believ
on the economy. continuing to push off difficult policy choices will only prolong and intensify these uncertainties. >> he went on to say, if we do get a plan that solves the government budget issues without hurting the economic recovery, next year could be a good one. that is so many if it. >>> the investigation of the shooting at the sikh temple is concluded. the shooter, michael page, acted alone and did not happen. he had been linked to white supremacist groups, but the fbi found no evidence to conclude he had help or was acting under any directive from them. they also said the attack was not part of any ongoing threat to the sikh community. >>> defense secretary leon panetta talked about how the american fight against al qaeda is changing. he said that, yes, the united states has had a lot of success, but al qaeda has been adapting and trying to find new safe havens and to combat this, panetta says new campaigns will take place outside declared comb combat zones using a small footprint approach. he went on to say america will partner with foreign forces to learn how to comb
office the cbo and outside observers, fiscal shock of that size would sent the economy toppling back into recession. >> and it wouldn't keep saying the deal's going to get done. if not, there are real repercussions, steve. >> absolutely. but, alex, what we're looking at now, as we head into next week, the general framework for the talk for the next four weeks is kind of a two-track system. one is let's do some agreement to avoid the fiscal cliff and that may be another short-term agreement to extend the rates, extend the spending as is, or maybe a slight modification and we'll have a negotiation next year on part two the grand bargain to overhaul the tax code and spending. i think both sides go into this with the general agreement, the leaders, that is, that they're going to have a short-term solution. i think the stock market's going to take a bit of a hit in the three or four weeks until we get to that end game but i think they're moving toward that. >> david, you agree with that? we're going to get something whether permanent or a downpayment. >> i think so. neither side wants a r
back on when in other parts of their life they are holding back. we know the economy is still so somewhat sluggish. when we talked to shoppers here, they say it's christmas. what are you going to do? >> i tell you, that puts to rest all of us who thought, well, maybe people don't want to show up on thanksgiving. not if you're going to walmart. courtney, thank you so much, it there in dayton, ohio, appreciate it. >>> up next, our political power panel weighs in on the tough road ahead for fiscal cliff negotiations. and still ahead, the great holiday escape. tracking the best deals and discounts for your getaways. is it better to be the early bird...or the earliest bird? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. w
to look at things we can do to flatten the code, to grow the economy, why would you tell people they have to pay more, small businesses, individuals, before -- >> make them pay more by getting hatch the deductions. >> it makes it flatter and fairer and supports economic growth and stops picking winners and losers in some cases. we've been here in the '80s and put the revenue first. said, hey, we'll agree to the spending cuts that come down the road and most never materialized. we had the deficit reduction in graham rudman. >> we know the rates we had under clinton we had the best economy of the past 50 years. we can go back to those rates. >> i want to talk about both of your parties. brad woodhouse, one thing we have learned is when barack obama is on the ballot, there is a coalition that helps democrats win a lot of elections. when he's not on the ballot, the one time that he was head of the party but not on the ballot, the party got shellacked. >> we were facing 10% unemployment. we had this debate over health care. one of the things we learned in this are the lessons that candidates a
seth doane on what that could mean for the economy. >> we're going to need a bigger car! the beatles' first audition. ♪ i saw a girl in my dreams -- >> and the executive who said they had no future in music. and scott pelley with the man who mobilized an army more than a million strong. children helping children. >> kids are looking to get involved. they're searching for it. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> good evening, scott's off tonight, i'm anthony mason. two days ago mohamed morsi won widespread praise for brokering a cease-fire between israel and hamas. today thousands of egyptians protested at morsi granted himself broad new powers, putting his decisions above any court. morsi called the move temporary but at least 100 people were injured as protesters clashed with police in cities across egypt, including alexandria and the capital. holly williams begins our coverage tonight in cairo. >> reporter: thousands of egyptians poured on to the streets, furious with the country's first democratically elected president. th
on the global economy. this morning, asian markets were mostly up on the news of record retail numbers. and wall street investors like the sight of packed stores during an abbreviated session on black friday. the dow added 172 points to once again move past the 13,000 mark. the question now is whether the shopping surge continues online today. an estimated 129 million shoppers are expected to hunt for deals on the web. retail analysts expect this cyber monday to be the biggest online shopping day of the year. the firm comscore predicts americans will spend $1.5 billion online today, an increase of 20% over last year. >> some people like the social aspect of being in the store with others, some people like to shop in bunny slippers. for some it's the anonymity and convenience of doing it 24 hours a day from their own living room. >> reporter: smartphone shopping is on the rise as well. this year an estimated 25% of shoppers are using mobile devices to find the best deal. that's nearly twice as many as last year. and the trend will likely keep going up. if you're going to be shopping online this y
take. there is a 4% increase because of an improving economy and we have just a quick shot out. one of -- shout out. one of our tweeters is number 25 in the bcs poll. >> wow. good for them. >>> and the search for a missing 16-year-old in the waters of humboldt county, we will bring you the latest on this tragedy. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. . >>> welcome back, authorities have stopped looking for a 16- year-old boy who was swept into the ocean in humboldt county. the boy and his two parents went into the water to try and save their dog. both parents drowned and was pronounced dead at the scene. they called off the search for the boy and the dog survived. >>> looking at washington d.c., crews out there, see that big crane, they are waiting for t
us. come shop at our places, too. >> i hope not. they're an important part of our economy, right? >> that's a good point. small businesses are creating the lions share of jobs in this country. adding 50,000 employees in october. you look at the october jobs report. the government said private employers added 184,000 job. yeah, that's a sizeable number. we're seeing that momentum pick up over the past year. besides the jobs factor there's also a human element out there. not only are you keeping local communities afloat by shopping at these local stores, there's kind of a camaraderie when you walk into a locally owned family business and everybody knows your name and they want to help you. you're not just going in, sliding your credit card and walking out and feeling like just a number. you feel like you're actually welcomed into the store and you're helped personally. >> absolutely. that is a good part of being a small business person and relating to your customers in a warmer, more intimate way. alison kosik live at the new york stock exchange. thank you. >>> new twist on a very
economy could go into the tubes. it will be very black for the country if these stores do not get in the black on black friday. it's very twisted, but it's quintessentially american. >> you've wrapped it up very well. bill santiago, thanks very much. a pleasure to talk to you. >> until next time. >>> well, a world war ii coded message found in a very strange place, and could you crack the code because nobody else seems to be able to? >>> plus -- danger ahead. yeah, a house right into the middle of a busy highway. [ nyquil bottle ] hey tylenol, you know we're kinda like twins. [ tylenol bottle ] we are? yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. >>> british spies are stumped. the skeleton of this pigeon dates back to world war ii. it was carrying a coded message in a little canister that was attached to its leg. the british intelligence agency is hoping to trace the original of this. now, here's the part where
for washington. >> top priority for us is to advance policies that will get the u.s. economy growing again. >> the country has to have a higher rate of growth. that begins with addressing the fiscal cliff issue. >> so, bipartisan bottom line, right? not quite. you see those business leaders have a vested interest in which spending should be cut and which loopholes closed. and let's just say what's old is new again. alison kosik is at the new york stock exchange with a closer look. put this in language we can understand as people who are not ceos. >> many of these high-level ceos, carol, are part of this movement, this campaign to fix the debt we've been hearing so much about. this includes some of the biggest heads of business that are out there. and some have been more outspoken than others when it comes to what needs to get done to get a handle on the deficit. it also has a lot of people saying wait a minute. some of these decisions could really impact -- and not a good way -- have a huge impact on the poor and elderly. for ceo lloyd blankfein, he did an interview over the weekend with c
economic growth, the economy has been very slow, too slow, and we need to do better. if we grow at 4% a year instead of 2% a year for one decade, the federal government would get $5 trillion more. that would pay down the entire debt that obama racked up in the first term, that's the way to go, not tax increases that would slow the economy. >> the reason why this is so interesting is it raises a question has to whether there are members of your party turning against you. senator chambliss is not the only one that said something like this, bill crystal said it would not kill the country to raise taxes. are you concerned that elements of the republican party are moving in a different direction? >> no, the good news, and certainly speaker boehner who was just reelected, and the leader of the republicans mick mcconnell have been very clear that they're going into this to reduce covet spending and reform government. they oppose tax hikes, 90% of americans and remembers in congress have made a written commitment to the american people, not to raise taxes. there will us be some that get aske
.s. economy back into a recession. both congress and the white house are trying to make a deficit reduction deal to avoid the financial chaos. and president obama's reverting to some campaign mode right now to try to make sure things are done his way. our white house correspondent dan lothian is joining us now with new information. what are you learning, dan? >> reporter: well, wolf, while senior members of the administration including secretary geithner, chief of staff jack lou also top advisor meeting with -- the president himself trying to sell his vision to the public, but some say it's not a winning strategy. it doesn't take a gps to find the way to the fiscal cliff. much more difficult, finding the off ramp. at the president's first meeting with congressional leaders more than a week ago, there was a sense of optimism. >> my hope is is that this is going to be the beginning of a fruitful process. >> reporter: there was a follow-up phone call with house speaker john boehner, but a much different approach this week. the president's calendar is packed with sales pitches to the public, wh
unchange. >> more uncertainty over the unstable greek economy this morning. european union officials failed to reach a deal on giving greece more aid. financial leaders had differences over how long greece should be given to reduce its debt. they need to agree before greece can receive its next bailout loan. >>> it looks like hostess' twinkie is cooked. the snack maker failed to reach an agreement with the bakers union in a private mediation session yesterday. on monday a bankruptcy judge asked the two sides to meet before hostess continued its liquidation process. it was a last-ditch effort to save the struggling company and more than 18,000 jobs. with no agreement in place, the judge will decide today if the maker of ho ho's, dingdongs and wonder bread can shut down its operation. other companies are reportedly interested in buying some of hostess' more popular brands. >>> and guys, i had a great surprise yesterday. i found in the back of my cup barred some hostess coming up cakes! >> you're an addict, aren't you? >> i am. [ laughter ] yes. i hid them, too. just so now. [ laughter ] >> i
feel the economy's getting stronger. and you know, it's just easier than it was last year. >> so, you know, i saw you looking around. what are the items that stand out to you? what are you looking to buy? >> well, today, i'm getting an itouch. >> very cool. and you know the other thing, i did the same story last year, and you talk with these people. you talk to families. this seems to be tradition. after thanksgiving you come out, you shop for black friday and you were telling me the same for you? >> that's correct. it's been a tradition since as long as i can remember that my mother and i would come shopping the day after thanksgiving, just a kickoff to the holidays. >> a lot of people seem to be doing that. fewer people in the store right now than we saw earlier. but the store opened at midnight. we saw some 600 people file into this particular store. a lot of people shopping for deals today. you'll see it, you know, today through sunday. these stores are doing everything they can to get as many people in the doors as possible. >> that's right. it's the thrill of the chase, right, g
. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ i love the fact that quicken loans provides va loans. quicken loans understood the details and guided me through every step of the process. i know wherever the military sends me, i can depend on quicken loans. i wish my patients could see what i see. ♪ that over time, having high cholesterol and any of these risk factors can put them at increased risk for plaque buildup in their arteries. so it's even more important to lower their cholesterol, and that's why, when diet and exercise alone aren't enough, i prescribe crestor. in a clinical trial versus lipitor, crestor got more high-risk patients' bad cholesterol to a goal of under 100. [ female announcer ] crestor is not right for everyone. like people with liver disease or women who are nursing, pregnant or may become pregnant. tell your doctor about other medicines you're taking. call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite,
, the end of the blockade, or the easing of the blockade, that's crippled the economy now for four years, and the israelis want security, obviously, for because of the hamas rockets hit for the first time as far as tel aviv and jerusalem. so there's motive to move forward. the question is, is there the will. that's always been the issue. >> both sides have the motive to move forward, as you say. both sides also claiming victory in this small skirmish over the last several days. want to play a sound bite from the leader of hamas who spoke in gaza city. >> translator: the victory of gaza is a solid truth, not a phenomenon. the era of egypt and the region has changed, and america has now beginning to learn a new and listen to a new language. >> so is he right? is there a new era dawning in the middle east? and what does it mean for the u.s.? >> well, there's clearly a new era dawning in the middle east. and we're still trying to figure out what the new order is going to look like, as are many people on the ground. but both sides to a certain degree can claim a degree of victory here. hamas
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
over into the streets, claiming lives and plunging the country's economy into turmoil, and more importantly it is threatening the country's post-revolutionary progress. for a fourth straight night protest efforts attacked the offices of president mohamed morsi's freedom and justice party. the political wing of the muslim brotherhood. demonstrators are angry at president morsmorsi's latest decision, one that's reverting the country to a dictatorship. >> we want a contry of institutions, not symbolized in one person who makes all decisions and nobody can say no. >> reporter: morsi's decree gave him legislative powers and extended the time to write a new constitution by two months. morsi's decisions are beyond judicial challenge and dismissed the attorney general. now the attorney general backed by the country's powerful judges, many appointed by former dictator hosni mubarak, are fighting back. they have called for a nationwide strike in the courtrooms. president morsi and other islamist parties have blamed egypt's judiciary for blocking key reforms. it's why president morsi on fr
an important part of the economy. so we wish everybody the best. >> hopeful they'll be able -- the people want their jobs. this looks like the people who own the company really wanted to continue to make this iconic brand. >> if investors could buy it maybe they could keep some of those factories running. some of those factories quite frankly are pretty old and inefficient. so we'll see. >> christine, thank you for the update. still ahead we continue to follow the breaking news out of tel aviv the bomb blast on that bus this morning. ruin any chances for a de-escalation which is what they've been talking about. we're going to be chatting with the ambassador stuart holliday ahead. then the republican tradition the iowa straw poll. why is the state's governor saying, eh, kind of useless. talk about that straight ahead. oh no, not a migraine now. try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. i heard you guys can ship
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